Rising Treasury yields pose a test for richly valued US stocks

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., April 1, 2024. REUTERS/Brendan McDermid/File Photo Purchase Licensing Rights , opens new tab NEW YORK, April 3 (Reuters) - Rising Treasury yields could provide the latest test for a rally that has made U.S. stocks increasingly expensive while taking them to fresh record highs. So far, a resilient economy, robust corporate earnings and excitement over artificial intelligence have helped stocks largely shrug off rising yields this year. Some investors worry, however, that elevated...